First-Quarter Profits Rise At BNP Paribas

Tom Burroughes

3 May 2017

, France's largest bank, has reported first-quarter 2017 net income, attributable to shareholders, of €1.894 billion ($2.086 billion), a 4.4 per cent gain on a year earlier.

When exceptional items are taken out, the Paris-listed lender's profit rose 13.2 per cent year-on-year, it has reported. Revenues of the operating divisions rose 7.0 per cent in the quarter from a year ago.

At €3.909 billion euros, revenues at the international financial services arm - which covers some wealth management and some other segments - rose by 5.8 per cent compared to the first quarter 2016, the bank said.

Insurance and wealth and asset Management’s assets under management5 reached €1.042 trillion as at 31 March 2017 (+10.4 per cent as compared to 31 March 2016). They rose by €32 billion compared to 31 December 2016 due in particular to "very good" net asset inflows totalling €15.2 billion and a positive performance effect of €16.1 billion.